Association of Chartered Certified Accountants Australia and New Zealand *
Registration date
01/03/2010
Status
Address
NORTH TOWER, SE 803, 1-5 RAILWAY ST CHATSWOOD New South Wales 2067
Other records
Expiry date
01/06/2024
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
<strong>Period of Effect:</strong> 22/01/2024 to 22/01/2026<br/><strong>Reason:</strong> 40-25 Period during which you may not apply for registration
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 22/01/2024<br/><strong>Reason:</strong> 40-5(1)(b) individual no longer meets registration requirements[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><li>30-10(1) - You must act honestly and with integrity</li><li>30-10(2) - You must comply with the taxation laws in the conduct of your personal affairs</li><li>30-10(11) - You must not knowingly obstruct the proper administration of the taxation laws</li></ul><br/><strong>Registration requirement not met:</strong> <ul><li>20-5(1)(a) Individual has ceased to meet registration requirement that they are a fit and proper person</li></ul><br/><strong>Explanation:</strong> On 7 December 2023, after completing an investigation, the Tax Practitioners Board (the TPB) decided to terminate the tax agent registration of Warren Seeto (Mr Seeto). The TPB found Mr Seeto had breached subsections 30-10(1), 30-10(2) and 30-10(11) of the Code of Professional Conduct (Code) in the Tax Agent Services Act 2009 (TASA). The TPB also determined Mr Seeto no longer satisfied the TPB that he meets the tax practitioner registration requirement that he is a fit and proper person under paragraph 20-5(1)(a) of the TASA. <br>The TPB found Mr Seeto had breached the Code by:<br>• intentionally lodging incorrect business activity statements (BAS) for a related company of which he was the director, and then later amending them, when he knew those BAS were incorrect.<br>• making false or misleading statements to the Australian Taxation Office (ATO) and obstructing the proper administration of tax laws when he enquired about eligibility for Cash Flow Boost (CFB) payments for his related company when he knew the company was not eligible for CFB payments.<br>• failing to maintain accurate business records for a related company of which he was a director. <br>• causing a related company, of which he was a director, to enter into a scheme for the purposes of accessing CFB to which it was not entitled by amending three of its BAS to show payments of wages or director fees when no amounts had been declared in those BAS previously.<br>• failing to lodge several BAS for his related companies by their due dates over a significant period of time.<br>• incorrectly reporting GST amounts in BAS and significantly underreporting income in an income tax return for his related tax agent company resulting in a significant tax debt to the ATO.<br>• failing to withhold pay as you go withholding amounts from payments made to three employees of his related tax agent company.<br>Given the above, the TPB decided to terminate Mr Seeto’s tax agent registration in accordance with subparagraph 60-125(2)(b)(ii) and paragraph 40-5(1)(b) of the TASA on the basis that he ceased to meet the registration requirement under paragraph 20-5(1)(a). The TPB also decided that Mr Seeto should be prohibited from applying for registration for a period of two years from the date his tax agent registration is terminated, in accordance with subsection 40-25(1) of the TASA.<br>Mr Seeto has applied to the Administrative Appeals Tribunal for a review of the Board’s decision.<br>